ART. 81] STATE TAX COMMISSIONER. 839

municipal purposes like the capital stock and property of other cor-
porations under this Article.

As to the State Tax Commission, see section 234, et seq.

See article 23, section 880, and article 81, section 164.

See notes to this section (as it stood in .1911) in volume 2 of the Anno-
tated Code.

1914, ch. 797, sec. 162A.

162A. The State Tax Commissioner shall take into consideration,
in determining the taxable values of the shares of stock of any bank
(state or national), located and doing business in this State (except
in case of such banks as are in liquidation), the capital stock paid in, its
surplus and undivided profits, as provided for in Section 153A of this
Article, and from the valuation which the State Tax Commissioner may
find, shall be deducted the assessed value of the real property belonging
to and assessed to such bank, and the assessed value of all other prop-
erty or investments held or owned by banks now authorized by Chapter
124 of the Acts of 1908 of the General Assembly of Maryland to be so
deducted, and the remainder shall be by the State Tax Commissioner
divided by the number of shares of such capital stock outstanding for
the purpose of determining the respective taxable value of each share,
as provided in the preceding Section, and there shall be paid on such
valuation the regular rate of taxation for State purposes, and there shall
also be paid on such valuation one per cent, (and no more) in all for
all County, City and Municipal taxation, which said tax shall be dis-
tributed among the different jurisdictions entitled to tax the same
shares, in the proportion which the rate of each jurisdiction, bears
to the aggregate of the rates of such jurisdictions, and said tax shall
be in lieu of all other taxes whatsoever, for County and Municipal pur-
poses upon the shares of stock and the owners of stock in such Banks.
But in the case of such banks as may be in the course of liquidation,
the aggregate Aralue of all shares thereof, for the purpose aforesaid,
shall be determined by the State Tax Commissioner from the assets
and liabilities thereof, and upon such valuation of such shares so deter-
mined, the regular rate of taxation for State and local purposes, shall
be paid, in the manner provided in this Article. Credits by reason of
the ownership by any such bank or banks of the Baltimore City Burnt
District Loan Stock issued under Chapter 468 of the Acts of 1904,
the Water Loan, issued under Chapter 333 of the Acts of 1902, and
The Conduit Loan, issued under Chapter 246 of the Acts of 1902,
whether heretofore or hereafter issued, and also all other credits author-
ized and provided for under said Chapter 124 of the Acts of 1908 of
the General Assembly of Maryland, shall be allowed as provided for in
said last mentioned Act, but shall be computed on the basis of the rates
for State, County, City and Municipal taxation, respectively, herein
prescribed ; no such credits, however, shall be allowed in any case where
the officer making such returns for such bank or banks shall fail to